Stock Update (NYSE:YGE): Yingli Green Energy Holding Co Ltd (ADR) Repaid Substantial Amount of Mid-Term Notes due on October 13, 2015

Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), one of the world’s leading solar panel manufacturers, today announced that its holding subsidiary, Baoding Tianwei Yingli New Energy Company Limited (“Tianwei Yingli”), has substantially repaid the Mid-Term Notes (“MTNs”) due today, which was previously restructured to be paid by the end of 2015. Approximately 70% of the MTNs including interest totaling $110 million USD (700 million RMB) were repaid from the liquidation of idle land and demolition of facilities held by Fine Silicon, one of the Company’s wholly-owned subsidiaries.

The MTNs were issued by Tianwei Yingli in October, 2010 as five-year unsecured notes totaling$157 million USD (1.0 billion RMB). The Company continues to work closely with the MTNs holders for repayment of the remaining portion of MTNs and expects such remaining portion to be repaid within one year. (Original Source)

Shares of Yingli Green Energy closed yesterday at $0.53. YGE has a 1-year high of $3.14 and a 1-year low of $0.33. The stock’s 50-day moving average is $0.57 and its 200-day moving average is $1.14.

On the ratings front, YGE has been the subject of a number of recent research reports. In a report issued on September 10, Credit Suisse analyst Patrick Jobin maintained a Sell rating on YGE, with a price target of $0.75, which represents a potential upside of 40.8% from where the stock is currently trading. Separately, on September 9, Roth Capital’s Philip Shen downgraded the stock to Sell and has a price target of $0.50.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Patrick Jobin and Philip Shen have a total average return of -1.6% and -11.7% respectively. Jobin has a success rate of 39.3% and is ranked #2835 out of 3775 analysts, while Shen has a success rate of 28.0% and is ranked #3736.

The street is mostly Bearish on YGE stock. Out of 4 analysts who cover the stock, 3 suggest a Sell rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $0.08, which represents a potential downside of 85% from where the stock is currently trading.

Yingli Green Energy Holding Co Ltd along with its subsidiaries is engaged in the design, development, marketing, manufacture, installation and sale of photovoltaic products in China & overseas market.

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